A Sustainable Investment in Journalism

A sustainable business requires diverse revenue streams. ESG Investor now operates a subscription service as of Tuesday 14th May. To find out more please get in touch with our subscription team on subscriptions@esginvestor.net

“Lobby Pressure” Sees French Bill Drop Say on Climate

Reclaim Finance has criticised pressure from lobby groups for causing a proposed adoption of Say on Climate votes to be dropped by the joint committee debating France’s draft Green Industry bill. During the first reading of the bill, France’s National Assembly had adopted an amendment to extend the Say on Climate principle, against the advice of the government. The measure would have required listed companies to submit their climate strategy to shareholders for a consultative vote through a resolution at their annual general meeting and was supported by both French and foreign investors. The environmental non-profit said it is “disappointed” that parliamentarians and the government have “given in to pressure from lobbyists”. Several lobby groups – particular the French Association of Large Companies – had been pushing for the amendment to be withdrawn. Reclaim Finance also called on the government and parliamentarians to work on improving the conditions for shareholder dialogue so that investors can implement their own climate commitments. Antoine Laurent, Advocacy Lead at Reclaim Finance, said: “This is very disappointing. The measure to combat greenwashing is a minimal, but useful step to support investors who want to invest more responsibly. Its removal from the text clearly illustrates the government’s lack of political will to move forward on sustainable finance.” 

The practical information hub for asset owners looking to invest successfully and sustainably for the long term. As best practice evolves, we will share the news, insights and data to guide asset owners on their individual journey to ESG integration.

Copyright © 2024 ESG Investor Ltd. Company No. 12893343. ESG Investor Ltd, Fox Court, 14 Grays Inn Road, London, WC1X 8HN

To Top